The ECB turns 25. And Lagarde celebrates with Draghi: “Whatever it cakes!”

“Whatever it cakes!”. Despite the bankers’ proverbial difficulty with easy jokes – the joke about Mario Draghi’s “heart transplant” at the time of the Prime Minister immediately comes to mind – this morning on the official Twitter profile of the president of the ECB, Christine Lagardea photo has appeared showing her smiling, spatula in hand, while she is intent on cutting a cake, under the amused (and slightly embarrassed) gaze of her two predecessors at the helm of the Eurotower: Jean-Claude Trichet and, indeed, Mario Draghi. All accompanied by the famous quote from the former Italian prime minister, mangled for the occasion in a festive version.

At the center of the cake a gigantic number 25: in fact, a quarter of a century has passed since the birth of the European Central Bank and yesterday a hundred guests gathered in Frankfurt for the anniversary. From the presidents of the other European institutions – Roberta Metsola, Charles Michel, Ursula von der Leyen – to the German chancellor Olaf Scholz and the Italian economy minister, Giancarlo Giorgetti. And, of course, Christine Lagarde’s two predecessors.

There were no speeches. The president – who, as mistress of the house, was the first to speak – insisted on the major crises that the ECB had to face over the course of twenty-five years, however always emerging “stronger”. With the single currency you have been able to guarantee “stability, sovereignty and solidarity with Europe”. A “pride” that also returned in Scholz’s brief speech, with the microphone then passed into the hands of Roberta Metsola and Charles Michel, ending with Ursula von der Leyen. After that it was the turn of the cake, and today we know how it turned out.